Table 17-10
The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s) incurs a cost of $2 for each gallon sold, with no fixed cost.
-Refer to Table 17-10.Suppose there are exactly two sellers of gasoline in Driveaway: Amogo and Spilmerica.If Amogo sells 150 gallons and Spilmerica sells 100 gallons,then
A) Amogo's profit is $150 and Spilmerica's profit is $100.
B) Amogo's profit is $100 and Spilmerica's profit is $66.67.
C) Amogo's profit is $75 and Spilmerica's profit is $50.
D) there is an excess supply of gasoline in Driveaway.
Correct Answer:
Verified
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